According to Coresight Research, approximately 2,220 brick-and-mortar stores will close in 2018. But Kniffen estimates that the number is closer to somewhere between 10,000 and 12,000. Still, he said, around 6,500 stores will open in their place.

"The common denominator there is they're the biggest stores," Simeon Siegel, executive director and senior equity analyst of apparel, broadlines and specialty retail at Nomura Securities, said on "Power Lunch."

"If you think about who's actually opening, it's these incredibly large stores, it's these stores that are off-mall, and it's the ones that are focusing on value," Siegel said.

With some exceptions — such as Lululemon, which is inside malls — brands such as Ross, T.J. Maxx and Ulta will continue to grow, Siegel said.

"What Amazon has taught us is that convenience belongs to the consumer," Siegel said. "Power belongs to the consumer. If there are any of those companies at the strip center around the block, the consumer is still empowered to walk in. The consumer would rather be in store, in an aisle, holding something. If you could be magically transported, that's where you'd want to be."

"The malls, which are generally further away from people, are harder to do that," he said.